RESOLUTION OF BOARD OF THE NATIONAL BANK OF UKRAINE

of December 28, 2011 No. 486

About approval of Changes to Regulations on procedure for forming and use of reserve for compensation of possible losses on credit operations of banks

According to article 36 of the Law of Ukraine "About banks and banking activity", articles 7 and 59 of the Law of Ukraine "About the National Bank of Ukraine", for the purpose of enhancement of requirements concerning procedure for forming of reserves for credit operations of the Board of the National Bank of Ukraine DECIDES: banks

1. Approve Changes to the Regulations on procedure for forming and use of reserve for compensation of possible losses on credit operations of banks approved by the resolution of Board of the National Bank of Ukraine of 06.07.2000 No. 279, registered in the Ministry of Justice of Ukraine 03.08.2000 for No. 474/4695 (with changes) (further - No. Provision 279) which are applied.

2. Requirements of the paragraph of the seventh Item 7.3 and Item 7.4 of Chapter 7 of the Provision No. 279 extend to pledge objects which are drawn up by agreements of pledge to the introduction in operation of this resolution, since 01.09.2012.

3. Requirements of paragraphs of the fourth - the eighth Item 8.1 of Chapter 8 of the Provision No. 279 do not extend to credit operations which are performed based on the credit agreements signed to the introduction in operation of this resolution and to which after the introduction in operation of this resolution changes concerning increase in terms and/or the amounts were not made.

4. Requirements of paragraphs of the eleventh - the eighteenth subitem 7.1.2 of Item 7.1 of Chapter 7 of the Provision No. 279 do not extend to pledge objects which are drawn up by agreements of pledge to the introduction in operation of this resolution.

5. To department of normative and methodological ensuring bank regulation and supervision (Ivanenko N. V.) after state registration in the Ministry of Justice of Ukraine to bring contents of this resolution to permission of structural divisions of central office, territorial administrations of the National Bank of Ukraine, and also to banks of Ukraine for use in work.

6. The resolution becomes effective from the date of its official publication.

7. To impose control over the implementation of this resolution on the vice-chairman of the National Bank of Ukraine Sorkin I. V.

Approved by the Resolution of Board of the National Bank of Ukraine of December 28, 2011 No. 486

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